Soilbuild Reit launches preferential offering to raise S$101.8m

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SOILBUILD Business Space Reit (Soilbuild Reit) has launched a fully underwritten non-renounceable preferential offering to raise about S$101.8 million to fund an Australia property acquisition. Read more at The Business Times.

SOILBUILD Business Space Reit has launched a fully underwritten non-renounceable preferential offering to raise about S$101.8 million to fund an Australia property acquisition.

Eligible unitholders can accept or decline, in part or in full, their provisional allotments of new units, and can apply for additional new units.About S$99.6 million, or 97.8 per cent of the gross proceeds, will partially fund the Reit's proposed acquisition of a multi-tenanted freehold Grade A office at 25 Grenfell Street, Adelaide, for A$134.22 million .

Mr Lim Chap Huat owns about 9.9 per cent of Soilbuild Reit units, while his sons each own about 6.6 per cent. In total, their undertakings represent about 29.5 per cent of the new units.

 

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